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Qatar’s Sovereign Fund and Enel in joint venture to develop renewables in Sub-Saharan Africa

Italian utility Enel has agreed with the Qatar Investment Authority to set up a joint venture to finance, build and operate renewable energy projects in Sub-Saharan Africa.

Under the deal the Qatari sovereign fund will buy 50% of Enel Green Power’s stake in projects in operation and under construction in South Africa and Zambia amounting to around 800 megawatts of capacity.

“We will work together to accelerate the creation of an extensive green energy footprint in Sub-Saharan Africa,” Enel CEO Francesco Starace said.

Also read: Qatar eyes Tanzania ICT and energy investments

Source: Reuters

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